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Side-by-side financial comparison of BADGER METER INC (BMI) and SunOpta Inc. (STKL). Click either name above to swap in a different company.
BADGER METER INC is the larger business by last-quarter revenue ($234.1M vs $205.4M, roughly 1.1× SunOpta Inc.). BADGER METER INC runs the higher net margin — 14.3% vs 0.4%, a 13.9% gap on every dollar of revenue. On growth, SunOpta Inc. posted the faster year-over-year revenue change (16.6% vs 14.1%). BADGER METER INC produced more free cash flow last quarter ($50.8M vs $12.1M). Over the past eight quarters, BADGER METER INC's revenue compounded faster (9.2% CAGR vs 7.4%).
Badger Meter Inc. is a leading global provider of flow measurement and control solutions, serving water utilities, industrial, commercial, and residential customer segments. Its core offerings include smart water meters, IoT-enabled usage monitoring systems, and supporting software that help clients track resource consumption, cut waste, and boost operational efficiency, with key markets spanning North America, Europe, and the Asia-Pacific region.
SunOpta, Inc. is a multi-national food and mineral company headquartered in Eden Prairie, Minnesota and founded in 1973 in Canada.
BMI vs STKL — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $234.1M | $205.4M |
| Net Profit | $33.6M | $816.0K |
| Gross Margin | 39.7% | 12.4% |
| Operating Margin | 18.4% | 3.3% |
| Net Margin | 14.3% | 0.4% |
| Revenue YoY | 14.1% | 16.6% |
| Net Profit YoY | 9.3% | 113.1% |
| EPS (diluted) | $1.13 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $234.1M | — | ||
| Q3 25 | $222.2M | $205.4M | ||
| Q2 25 | $238.1M | $191.5M | ||
| Q1 25 | $222.2M | $201.6M | ||
| Q4 24 | $205.2M | $193.9M | ||
| Q3 24 | $208.4M | $175.9M | ||
| Q2 24 | $216.7M | $169.5M | ||
| Q1 24 | $196.3M | $184.4M |
| Q4 25 | $33.6M | — | ||
| Q3 25 | $35.1M | $816.0K | ||
| Q2 25 | $34.6M | $4.4M | ||
| Q1 25 | $38.4M | $4.8M | ||
| Q4 24 | $30.7M | $-8.7M | ||
| Q3 24 | $32.0M | $-6.2M | ||
| Q2 24 | $33.1M | $-5.3M | ||
| Q1 24 | $29.1M | $2.9M |
| Q4 25 | 39.7% | — | ||
| Q3 25 | 43.1% | 12.4% | ||
| Q2 25 | 41.1% | 14.8% | ||
| Q1 25 | 42.9% | 15.0% | ||
| Q4 24 | 40.3% | 10.9% | ||
| Q3 24 | 40.2% | 13.0% | ||
| Q2 24 | 39.4% | 12.5% | ||
| Q1 24 | 39.3% | 16.8% |
| Q4 25 | 18.4% | — | ||
| Q3 25 | 20.7% | 3.3% | ||
| Q2 25 | 18.8% | 5.5% | ||
| Q1 25 | 22.2% | 5.2% | ||
| Q4 24 | 19.1% | 1.4% | ||
| Q3 24 | 19.5% | 0.5% | ||
| Q2 24 | 19.2% | 1.2% | ||
| Q1 24 | 18.6% | 5.5% |
| Q4 25 | 14.3% | — | ||
| Q3 25 | 15.8% | 0.4% | ||
| Q2 25 | 14.5% | 2.3% | ||
| Q1 25 | 17.3% | 2.4% | ||
| Q4 24 | 15.0% | -4.5% | ||
| Q3 24 | 15.4% | -3.5% | ||
| Q2 24 | 15.3% | -3.1% | ||
| Q1 24 | 14.8% | 1.6% |
| Q4 25 | $1.13 | — | ||
| Q3 25 | $1.19 | $0.01 | ||
| Q2 25 | $1.17 | $0.03 | ||
| Q1 25 | $1.30 | $0.04 | ||
| Q4 24 | $1.04 | $-0.08 | ||
| Q3 24 | $1.08 | $-0.05 | ||
| Q2 24 | $1.12 | $-0.04 | ||
| Q1 24 | $0.99 | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.2M |
| Total DebtLower is stronger | — | $250.8M |
| Stockholders' EquityBook value | $713.3M | $162.8M |
| Total Assets | $973.6M | $694.1M |
| Debt / EquityLower = less leverage | — | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $2.2M | ||
| Q2 25 | — | $2.2M | ||
| Q1 25 | — | $2.3M | ||
| Q4 24 | — | $1.6M | ||
| Q3 24 | — | $2.9M | ||
| Q2 24 | — | $3.2M | ||
| Q1 24 | — | $1.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $250.8M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $260.6M | ||
| Q4 24 | — | $265.2M | ||
| Q3 24 | — | $289.9M | ||
| Q2 24 | — | $303.1M | ||
| Q1 24 | — | $258.8M |
| Q4 25 | $713.3M | — | ||
| Q3 25 | $702.5M | $162.8M | ||
| Q2 25 | $677.6M | $159.8M | ||
| Q1 25 | $641.7M | $154.8M | ||
| Q4 24 | $606.2M | $148.6M | ||
| Q3 24 | $591.2M | $155.0M | ||
| Q2 24 | $563.1M | $158.8M | ||
| Q1 24 | $535.6M | $163.6M |
| Q4 25 | $973.6M | — | ||
| Q3 25 | $978.3M | $694.1M | ||
| Q2 25 | $936.4M | $704.9M | ||
| Q1 25 | $899.6M | $690.7M | ||
| Q4 24 | $816.4M | $668.5M | ||
| Q3 24 | $802.9M | $699.3M | ||
| Q2 24 | $781.3M | $704.7M | ||
| Q1 24 | $743.5M | $671.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.54× | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 1.68× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 1.91× | ||
| Q1 24 | — | 1.58× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $54.8M | $16.3M |
| Free Cash FlowOCF − Capex | $50.8M | $12.1M |
| FCF MarginFCF / Revenue | 21.7% | 5.9% |
| Capex IntensityCapex / Revenue | 1.7% | 2.1% |
| Cash ConversionOCF / Net Profit | 1.63× | 20.03× |
| TTM Free Cash FlowTrailing 4 quarters | $169.7M | $36.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | — | ||
| Q3 25 | $51.3M | $16.3M | ||
| Q2 25 | $44.6M | $-4.5M | ||
| Q1 25 | $33.0M | $22.3M | ||
| Q4 24 | $52.1M | $33.1M | ||
| Q3 24 | $45.1M | $17.2M | ||
| Q2 24 | $36.4M | $-5.6M | ||
| Q1 24 | $21.5M | $5.3M |
| Q4 25 | $50.8M | — | ||
| Q3 25 | $48.2M | $12.1M | ||
| Q2 25 | $40.6M | $-9.2M | ||
| Q1 25 | $30.1M | $9.5M | ||
| Q4 24 | $47.4M | $24.0M | ||
| Q3 24 | $42.0M | $11.7M | ||
| Q2 24 | $34.1M | $-15.3M | ||
| Q1 24 | $18.8M | $-2.3M |
| Q4 25 | 21.7% | — | ||
| Q3 25 | 21.7% | 5.9% | ||
| Q2 25 | 17.1% | -4.8% | ||
| Q1 25 | 13.5% | 4.7% | ||
| Q4 24 | 23.1% | 12.4% | ||
| Q3 24 | 20.1% | 6.6% | ||
| Q2 24 | 15.7% | -9.0% | ||
| Q1 24 | 9.6% | -1.2% |
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.4% | 2.1% | ||
| Q2 25 | 1.7% | 2.5% | ||
| Q1 25 | 1.3% | 6.3% | ||
| Q4 24 | 2.3% | 4.7% | ||
| Q3 24 | 1.5% | 3.2% | ||
| Q2 24 | 1.1% | 5.7% | ||
| Q1 24 | 1.4% | 4.1% |
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | 20.03× | ||
| Q2 25 | 1.29× | -1.03× | ||
| Q1 25 | 0.86× | 4.63× | ||
| Q4 24 | 1.70× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.10× | — | ||
| Q1 24 | 0.74× | 1.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
STKL
| Beverages And Broths | $161.4M | 79% |
| Fruit Snacks | $40.9M | 20% |
| Ingredients | $3.1M | 2% |
